Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 530A

(1)

As soon as practicable after the Court orders that a company be wound up or appoints a provisional liquidator of a company, or a company resolves that it be wound up, each officer of the company must:

(a)

deliver to the liquidator appointed for the purposes of the winding up, or to the provisional liquidator, as the case may be, all books in the officer's possession that relate to the company, other than books possession of which the officer is entitled, as against the company and the liquidator or provisional liquidator, to retain; and

(b)

if the officer knows where other books relating to the company are—tell the liquidator or provisional liquidator where those books are.

(2)

Where a company is being wound up, or a provisional liquidator of a company is acting, an officer of the company must:

(a)

attend on the liquidator or provisional liquidator at such times; and

(b)

give the liquidator or provisional liquidator such information about the company's business, property, affairs and financial circumstances; and

(c)

attend such meetings of the company's creditors or members;

as the liquidator or provisional liquidator reasonably requires.

(3)

An officer of a company that is being wound up must do whatever the liquidator reasonably requires the officer to do to help in the winding up.

(4)

An officer of a company must do whatever a provisional liquidator of the company reasonably requires the officer to do to help in the performance or exercise of any of the provisional liquidator's functions and powers.

(5)

The liquidator or provisional liquidator of a company may require an officer of the company:

(a)

to tell the liquidator the officer's residential address and work or business address; or

(b)

to keep the liquidator informed of any change in either of those addresses that happens during the winding up.

(6)

A person must not, without reasonable excuse, fail to comply with subsection (1), (2), (3) or (4), or with a requirement under subsection (5).

(7)

In this section: